Advisers 'prepared' for cyber security attacks

'Layers of security'

Hannah Godfrey
clock • 3 min read

Financial advisers have been prepared for the latest wave of cyber attacks and were thus able to fend off the threat that engulfed the business world over the weekend, a number of the profession have told Professional Adviser.

From Friday and over the course of the weekend, several organisations in the UK including the NHS were hit by a security threat called ransomware, a software that locks a computer and demands payment before allowing access again. But the country's financial advisers seem to have been prepared. Of the advisers and industry professionals Professional Adviser spoke to, nobody had been affected or heard of anybody else in the financial services industry who had been affected by the attack. Last year, the Financial Conduct Authority said regulated firms, including advisers, needed to be aw...

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